Leveraging People Analytics to Drive Business Excellence in the Retail Sector – A Case Study by Quantzig
A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest people analytics engagement for a leading retail giant. During the course of this engagement, the people analytics experts at Quantzig adopted a holistic approach that was divided into three phases.
In today’s complex business scenario, the use of advanced analytics and employee data to effectively manage workforce is going mainstream across industries. But a few years ago, people analytics was the provenance of market leaders across industries. However, with the ongoing advancements businesses have realized the need to effectively manage their workforce to drive business excellence. Although workforce analytics, HR analytics, talent analytics, and people analytics are used interchangeably, talent analytics has a slightly more exclusive connotation when compared to the other terms.
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The Business Problem: The client is a leading retail giant headquartered in Canada with business units spread across the globe. The high attrition rate and unproductive results made them realize that talent management was the critical area that they needed to focus on. The retail firm wanted to adopt a new approach that would help them identify talent to succeed in an increasingly competitive retail scenario. Hence, they approached Quantzig to leverage its expertise in offering customized people analytic solutions. Also, the client wanted to redesign their existing talent management dashboard with a holistic framework to tackle challenges.
“Our people analytics solutions leverage the use of statistics and industry knowledge to extract maximum insights from employee data resulting in better workforce management,” says a people analytics expert from Quantzig.
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The Solution Offered: We adopted a comprehensive three-phase approach to help the client tackle the challenges surrounding employee management. The initial phase focused on data exploration to translate a full range of employee data into insights that the company could model against actual outcomes. Furthermore, the use of customized dashboards resulted in a major paradigm shift that paved the way for a detailed analysis that helped them enhance the operational effectiveness of the organization as a whole.
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